Jakarta. Lippo Karawaci, a leading property company and provider of healthcare platforms in Indonesia by total assets and total revenue, announced Tuesday that its subsidiary, Siloam International Hospitals, has become part of Morgan Stanley Capital International Small Cap Index.
Siloam's inclusion on the MSCI Small Cap Index on Nov 12 reflected the consistent business growth since 2019 and its strong financial performance, Lippo said in the statement.
Siloam's latest financial report showed it booked Rp 1.8 trillion in earnings before tax, interest, depreciation, and amortization (Ebitda) and a margin of more than 28.9 percent, as well as a net profit of more than Rp 700 billion.
Since Jan 1, 2019, Siloam's share price has increased by 2.4 times, and its market capitalization has now exceeded Rp 14 trillion, making the company the largest hospital network with the best performance in Indonesia during this period. The hospital operator also has the highest revenue per patient.
Lippo Karawaci's Chief Executive Officer, John Riady, said he was delighted that Siloam Hospitals had become part of the MSCI Small Cap Index. That proves the strong performance of Lippo Karawaci and Siloam in the health sector in Indonesia.
"LPKR through SILO is committed to developing the health industry, which is one of the important industries or sectors that need to be developed in Indonesia," John said in the statement. He referred to Lippo Karawaci and Siloam by their stock market tickers, respectively.
"Moreover, the economy is expected to grow, and the need for health facilities will increase. LPKR through SILO will continue to expand. We have a mission to meet healthcare needs in Indonesia, and of course, committed to continuing to grow," John said.
Siloam Hospitals closed 1.1 percent lower on Tuesday to Rp 9,100 per share. That is about 21 times the company's earnings. Siloam Hospitals' market cap is Rp 14.79 trillion.